Former Ripple developer talks about bitcoin’s biggest problem

Matt Hamilton, the former head of developer relations at Ripple, pointed out the main problems of bitcoin in response to a tweet by Crypto Connect founder Haley Lennon.

In her post, Haley Lennon talked about the most difficult aspect of her job — explaining to people the difference between bitcoin and other digital assets. Matt Hamilton also wrote his opinion, while pointing out the significant drawbacks of the flagship cryptocurrency. According to the developer, «the main difference is that bitcoin revolutionized the concept of artificial digital scarcity, but now more successful business models are being formed.»

Easy: Bitcoin was revolutionary and proved the concept of artificial digital scarcity. All the rest are where the actual innovation is now happening and business models are forming.

— Matt Hamilton (@HammerToe) October 5, 2022

Thus, Matt Hamilton believes that the time of bitcoin’s success and development has passed, and therefore investors should pay attention to other cryptocurrencies. However, the developer did not specify which ones. Representatives of MicroStrategy, including Michael Saylor, would definitely disagree with Hamilton. Thus, even despite the strong fall of the flagship cryptocurrency in the period from August 2 to September 19, 2022, MicroStrategy acquired 301 BTC for a total of about $ 6 million.